Experts: Area housing market won't improve in 2011

The Washington area’s housing market isn’t expected to rebound for at least a year, and 2011 could mark a new low for some areas, according to real estate experts. Home prices are expected to stay flat through at least the first half of the year, according to Rick Sharga, senior vice president of RealtyTrac, a foreclosure-tracking firm in Irvine, Calif. But in areas with higher foreclosure rates — like Prince George’s and Prince William counties — the market could worsen.

“In the more distressed areas the potential depreciation could be closer to national averages,” said Sharga, who predicts that home prices nationwide will fall by 5 to 7 percent next year.